The world’s largest bitcoin exchange Binance has become one of the investors of the future of the decentralized Bank Founders Bank in Malta. About it writes Bloomberg.
Cryptocurrency exchange, the profits of which by 2018 could reach $1 billion, has invested a five percent share in the Bank deinvestigaciones estimate of €133 million ($155 million).
The launch of a large-scale project will take place after the Founders of the Bank will receive from the regulatory bodies of Malta and EU member States permission for their activities. After that, the institution will receive the status of the world’s first decentralized Bank.
It is known that the system Founders Bank will be built on blockchain technology. After receiving funding through fundraising platform Neufund institution will produce their own stock legally.
Representatives Binance said that the sale of the shares of the Bank will be held according to the rules of regulation of Germany in cooperation with one of the largest stock exchanges of Europe.
“We are proud that Malta will be the first Bank belonging to the global community”, — said the Secretary of Parliament on digital innovation and Finance Silvio Schembri.
Earlier ForkLog wrote that in July, the Maltese Parliament in the third reading passed three bills regulating the industry of cryptocurrencies and the blockchain. According to Silvio Schembri, the Parliament will reassure investors, and the company will receive the necessary tools for actions in the legal field.
We will note, earlier Binance said he will support the program of development FINTECH start-UPS and entrepreneurship, organized by the Malta stock exchange.
Before the bitcoin exchange opened a Bank account in Malta. According to CEO Binance, Chanpen jao, this step brought the exchange to its plan to launch on their platform fiato-cryptocurrency deposits with the possibility of withdrawal.